How does the Great Yarmouth BID work?

Executive Summary

The second gyBID term will run for five years from April 2011 until March 2016. The 2011-2016 Business Plan outlines the initiatives and activities to be undertaken during the second BID term along with details of the BID area and how the BID is to be funded.

The following is a summary of the main points in the Business Plan:

During the first five years of the Great Yarmouth Business Improvement District (gyBID) quantifiable improvements have been made towards the main aims of the Town Centre Partnership of providing a Safer, Cleaner and Friendlier town centre to live, work and shop in.
The first gyBID term is nearing its close – the Town Centre Partnership is proposing a second BID term which will run from 2011-2016.
A second five-year Business Improvement District term for Great Yarmouth town centre is vital if we are to maintain and build on the improvements delivered over the last five years.
The second term of gyBID will ensure that a dedicated team of town centre Street Wardens are retained for a further five years.
The criteria for the ballot and levy contributions will be based on the 2005 Business Rate valuations for those businesses existing on 31st March 2010 and on the 2010 valuations for all premises established after that date.
The ballot of eligible businesses will be held between January 20th 2011 and 17th February 2011.
A successful BID ballot requires a majority of businesses to vote in favour, by both number and rateable value.
If the renewal ballot is unsuccessful all projects and services currently delivered using levy from gyBID, including the Street Wardens and the ShopSafe retail crime reduction scheme, will be withdrawn at the end of March 2011.
To fund gyBID all Retail and Service businesses with a rateable value of £9,000 or more will be levied up to 1.5% of their business rate.
A 0.5% reduction will be allowed for businesses located west of Haven bridge and those whose shop fronts are located within a managed shopping centre.
The BID levy will be collected by Great Yarmouth Borough Council at no cost to the BID and passed onto the Town Centre Partnership to manage.
All gyBID funded projects will be additional to any services already delivered by Great Yarmouth Borough Council, Norfolk County Council and the Norfolk Constabulary.

The full Business Plan 2011-2016 can be read in full in the 'Documents' Page of this website.